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IDBI Bank Pradhan Mantri Mantri Awas Yojna Home Loan

IDBI Bank Home Loan can be availed at the most competitive home loan rates with feasible loan repayment option, Flexible Loan Installment Plan, Step up & Step down repayment facility, Tranche Based EMI, .Home Loan, Home Loan Interest Saver, Home Loan -Top up, Home Loan – takeover facility and lots more. To let perpetual light shine on all the beneficiaries, IDBI bank provides home loan to all the PMAY beneficiaries at the most affordable interest rates in compliance with PMAY guidelines.

IDBI Bank on behalf of the borrowers would submit the claim to NHB for availing the interest subsidy.

The interest subsidy being initiated by the government which would be credited in the loan account of the beneficiary and this will ease the EMIs burden of the beneficiary.

The rate of interest will be as per the extant interest rate structure of the standard Home loan scheme of IDBI bank but the interest rate subsidy will be computed at 6.5%.

There is no loan amount limit under IDBI PMAY home loan scheme. But interest subsidy will be available for the first loan amount of Rs. 6 lakhs.

The maximum loan tenure is as per the standard Home loan schemes of the bank i.e. maximum 30 years for salaried and 20 years for non-salaried.

The beneficiary familyof PMAY should not own a pucca house either in his /her name or in the name of any member of his / her family in any part of India.

The Carpet Area for the proposed property should be up to 30 sqr. meters and 60 sqr. meters. for EWS and LIG respectively.

The property must be located in one of the 4041 statutory towns as per 2011 census.

The beneficiary household should comprise of husband, wife and unmarried children.

IDBI PRADHAN MANTRI AWAS YOJANA HOME LOAN AMOUNT ELIGIBILITY

The minimum and maximum loan amount can be availed as per IDBI Bank Home Loan Eligibility criteria. As per PMAY, the interest subsidy will be available for loan amount up to Rs. 6 Lakhs. Currently, the bank offers a minimum loan amount of Rs. 5 lakhs and a maximum loan of Rs. 10 crores.